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Yesterday BTC broke up from the descending resistance and followed through up until $8,500. Currently BTC is hovering over the 13 and 21 EMAs - in the process of crossing up - and might print one more long lower wick down to around $8,200 before possibly continuing up. RSI has hit a resistance level at 58 and will need to break it if $8,500 is to be retested and broken. $9,000 is the upper range of the brooding structure's target with sell zones along the way marked in purple.
1H chart possibly weakness showing. A failure to break above previous highs on a bounce would indicate downside pressure.
This is only my opinion! Let me know what you think!
Thank you all for the support!
Leave a like and share if you enjoy these updates!
Yesterday BTC broke up from the descending resistance and followed through up until $8,500. Currently BTC is hovering over the 13 and 21 EMAs - in the process of crossing up - and might print one more long lower wick down to around $8,200 before possibly continuing up. RSI has hit a resistance level at 58 and will need to break it if $8,500 is to be retested and broken. $9,000 is the upper range of the brooding structure's target with sell zones along the way marked in purple.
This is only my opinion! Let me know what you think!
Comment:
1H chart support coming in
1H chart support coming in
1H chart. Even though there was a higher high, MACD failed to bring in any positive momentum. RSI bearish divergence.